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Learn About Financial Regulation on the Treadmill

I recently decided that one way to get smarter might be to start listening to NPR podcasts at the gym. There’s lots of good content on NPR all the time, after all, but in practice I rarely listen to more than 15 minutes of Morning Edition while getting up. The answer: podcasts.

I think it’s working. I particularly recommend the This American Life episode called “The Watchmen” which gives a ground-level view of regulatory failure around derivatives and then looks at the credit rating agencies. Then in good new media fashion some of the material from the episode that wound up on the cutting room floor becomes the main pillars around which the Planet Money podcast “Secrets of the Watchmen” was built. Good stuff. Planet Money is also a blog. Here they observe that reduced smoking rates may well exacerbate the long-term budget deficit.

Politics

Hatch bristles over criticisms that he’s at fault for problems of the Bush years: ‘Don’t you believe that B.S.’

hatchbush Yesterday at Utah’s GOP convention, the state’s two U.S. senators — Orrin Hatch (R) and Bob Bennett (R) received only “polite receptions,” compared to the boisterous applause received by some of the state’s representatives. From the Deseret News:

Hatch, at one point in his speech, appeared upset when some delegates applauded as a way of blaming national Republicans, himself included, for the deficit and other problems of the Bush years.

“Don’t you believe that B.S.,” Hatch said loudly. But some of the 1,800 delegates clearly did.

While many delegates stood and applauded the longtime incumbents (Hatch 33 years, Bennett 15 years), others sat on their hands — not booing, but showing their disapproval through silence.

Many attendees also expressed displeasure with Gov. John Huntsman (R), who has agreed to become President Obama’s ambassador to China. GOP party chair Jude Law said that Huntman’s endorsement of civil unions “mocks God.” (HT: Huffington Post)

Yglesias

The Truth About Settlements

Daniel Kurtzer and Ariel Sharon (Israel Government Press Office)

Daniel Kurtzer and Ariel Sharon light Hanukkah candles (Israel Government Press Office)

Daniel Kurtzer, who served as US Ambassador to Israel during George W. Bush’s first term, corrects the record on Israel’s settlements. The key factual takeaway is that what Obama is doing is actually seeking to achieve what’s always been American policy on this issue, not trying to get the Israelis to do anything they haven’t agreed to previously. He then goes on to poke holes in the “natural growth” concept:

The pattern of population growth in the territories actually undercuts the natural-growth argument. Since 1993, when Israel signed the Oslo Accords, Israel’s West Bank settler population has grown from 116,300 to 289,600. The numbers in East Jerusalem increased from 152,800 to more than 186,000. This goes far beyond the natural increase of families already living in the settlements. Inserting the provision of “natural growth” in official documents started with the 2001 Mitchell Report and the 2003 “road map,” reflecting recognition that the concept was being abused as a justification for expanding settlements. The Obama administration is pursuing policies that every administration since 1967 has articulated — that settlements jeopardize the possibility of achieving peace and thus settlement activity should stop. This does not diminish the Palestinians’ responsibilities, especially their commitment to stop violence and terrorism and uproot terrorist infrastructure. President Obama emphasized this in his Cairo speech. But Palestinian failures in no way justify Israeli failure to implement their road map commitments with respect to settlements and outposts. It is time for Israel to freeze all settlement activity and dismantle the unauthorized outposts.

The other thing I’ve heard from people is that it’s somehow logistically impossible to totally freeze settlement growth. Even if this were true, it would be a red herring—if the difference between the Obama administration and Netanyahu were really a technical logistical issue, you could work it out. What we’re seeing is a broad disagreement about policy. Obama wants peace and a two-state solution, Netanyahu has an approach that would preclude such a solution.

Meanwhile, it’s not true. Americans for Peace Now has a very useful document called “How to Freeze Settlements: A Layman’s Guide” that I would recommend to anyone who’s interested in exploring this issue in detail.

Politics

CIA Director says Cheney sounds like he is ‘wishing that this country would be attacked again.’

cheney1In her profile of CIA Director Leon Panetta in this week’s New Yorker, Jane Mayer reports that Panetta believes former Vice President Dick Cheney’s criticism of the Obama administration’s approach to terrorism almost suggests “he’s wishing that this country would be attacked again”:

Panetta, pouring a cup of coffee, responded to Cheney’s speech with surprising candor. “I think he smells some blood in the water on the national-security issue,” he told me. “It’s almost, a little bit, gallows politics. When you read behind it, it’s almost as if he’s wishing that this country would be attacked again, in order to make his point. I think that’s dangerous politics.

The language Cheney has chosen to use has suggested he is anticipating another attack. In a CNN interview earlier this year, he explicitly fear-mongered that Obama is “making some choices” that “raise the risk..of another attack.” And in an interview with Politico, Cheney “warned that there is a ‘high probability‘ that terrorists will attempt a catastrophic nuclear or biological attack in coming years, and said he fears the Obama administration’s policies will make it more likely the attempt will succeed.”

Yglesias

Tales From the China Lobby

Chiang Kai-Shek (Library of Congress)

Chiang Kai-Shek (Library of Congress)

For several decades around the middle of the twentieth century, US policy toward China was heavily influenced by the “China lobby,” an amalgamation of evangelicals interested in Chinese missionary work, businessmen interested in the Chinese market, members of the Kuomintang political elite, and Cold War ultra-hawks who pushed the United States toward heavy alignment with the KMT and policies of brinksmanship with Communist China.

Robert Farley takes a look back at their heyday:

The language that the China Lobby used to preclude US rapproachment with China will be familiar to contemporary readers; China was a rogue state that could use its nuclear weapons randomly at any given time, and as such wasn’t fit for diplomacy. At one point, Chiang Kai Shek claimed knowledge of the location of the most important Chinese nuclear facilities, and suggested that he could take them out, if only the US would loosen the leash a bit. The PRC, it seemed, was full of atheist maniacs who didn’t believe that 72 virgins would be waiting for them when they died, and consequently could do ANYTHING. Lousy atheists. Anyway, strategic considerations (and sanity) precluded any meaningful unleashing of Chiang, but the influence of the Lobby in the executive branch and in Congress helped prevent a Sino-American dialogue over Vietnam, the final status of Korea, the role of the PRC at the UN, and the potential for collaboration with the Soviet Union. When any President hinted at acknowledging the PRC, the Lobby could arm Congressional opponents with money and righteous rhetoric about the dangers of appeasing Beijing. Nixon was able to break the cycle, in part because the most vocal China advocates came from within his own party, but also because of the shifting strategic situation of the early 1970s. Concern about increasing Soviet power and the need for a way out of Vietnam eventually overwhelmed the story that the Lobby was trying to sell.

At any rate, I don’t like arguments purely by analogy, but one point I try to make in my book is that while neoconservatism is a relatively new phenomenon, the basic ideas that undergirded the neocon foreign policy approach in the early 21st century have a long lineage in twentieth century American foreign policy. And it’s a lineage of pretty consistent wrongness. The main difference is that in the 20th century these impulses were usually either checked (no engagement with the PRC, but no “unleashing” of Chiang either) or else channeled into relatively unimportant developing world sideshows (Arbenz coup, assassination of Patrice Lumumba, the contra war). Under Bush, however, this approach came to be applied to the central areas of strategic concern for the United States with catastrophic results.

Relatedly, if you want to understand the intellectual decline of the Bush family, this weird anecdote about unleashing Chiang is priceless.

Politics

Ginsburg praises Sotomayor nomination: She will bring ‘a wealth of experience in law and in life.’

Speaking at the annual conference of the U.S. Court of Appeals for the 2nd Circuit on Friday, Supreme Court Justice Ruth Bader Ginsburg praised the nomination of Judge Sonia Sotomayor to the court. “As much as I will miss Justice Souter’s company,” said Ginsburg, “I was cheered by the next banner headline,” which was Sotomayor’s nomination. Ginsburg added that she would be “glad” to no longer be the only woman on the court:

The nominee will bring to the Supreme Court, as she did to the district court and then the Court of Appeals, a wealth of experience in law and in life,” Ginsburg said. “And I am so glad no longer to be the lone woman on the court.” Implicitly assuming that Sotomayor will be confirmed, she added, “I look forward to a new colleague well-equipped to handle the challenges our work presents.”

(HT: Politco 44)

Media

Media at Its Worst

Coaxial Cable (Wikimedia)

Coaxial Cable (Wikimedia)

Robert Farley:

So, I’m trying to find out something about what’s going on in Iran, and on CNN I can watch a rerun of Larry King interviewing several gentlemen without shirtsleeves who apparently assemble choppers. On Fox Mike Huckabee is trying to explain why Jesus hates credit card relief. MSNBC is rerunning something about a prison in New Mexico. CNBC is evaluating whether college students should be able to afford Chanel tote bags.

Whenever I find myself talking about new media to skeptics of an older generation who worry that the standards online are too debased, I try to remind people that the real debasing came with the rise of multi-channel cable news. In terms of the Iranian elections, the world’s top newspapers have the people on the ground reporting the main facts, and there’s lots of smart analysis from legitimate experts all over the web, but on television if it can’t be captured by two talking heads debating each other it’s like it never happened.

Politics

Kyl: Who cares if Europe doesn’t like Guantanamo, they didn’t like when we invaded Iraq either.

On CSPAN’s Newsmakers today, Sen. Jon Kyl (R-AZ) attacked President Obama’s efforts to close the prison at Guantanamo Bay. “The real question is why do it and the only answer is, ‘well, it’s a symbol,’” said Kyl, adding that “the terrorists don’t need Guantanamo to figure out that they don’t like the United States.” When the host noted that Guantanamo “has been an issue in Europe, among leaders, our allies,” Kyl replied, “big deal.” “They didn’t like the fact that we invaded Iraq and replaced Saddam Hussein either.” Watch it:

Considering that the decision to invade Iraq ultimately “made the American people less secure,” Kyl shouldn’t be so dismissive of those who said from the start that it was a mistake. Likewise with Guantanamo Bay. Kyl dismisses the negative symbolic power of Guantanamo, but as the Center for Strategic & International Studies concluded in September 2008, “the United States has been damaged by Guantánamo beyond any immediate security benefits. Our enemies have achieved a propaganda windfall that enables recruitment to violence, while our friends have found it more difficult to cooperate with us.”

Transcript: Read more

Climate Progress

High Water: Greenland ice sheet melting faster than expected and could raise East Coast sea levels an extra 20 inches by 2100 — to more than 6 feet

The eastern United States must plan on the very real possibility that total sea level rise by 2100 will exceed 6 feet on our current emissions path. Sadly, the Washington Post got the only story half right.

greenland_ice_melting.jpgThis week I’ll focus on our best understanding of the impacts that Americans face from human-caused climate change.  On Tuesday, the US Global Change Research Program is releasing its long-awaited comprehensive analysis of Global Climate Change Impacts in United States.  We’ll see how it matches up against my not-so-well-funded analysis, “Yes, the science says on our current emissions path we are projected to warm most of U.S. 10 – 15°F by 2100, with sea level rise of 5 feet or more, and the SW will be a permanent Dust Bowl.”

First, though, let’s do a comprehensive review of projected sea level rise (SLR), starting with two recent studies on what accelerated melting of the Greenland ice sheet might mean for us.  The University of Alaska Fairbanks reports on a brand new study in the journal Hydrological Processes (subs. req’d):

The Greenland ice sheet is melting faster than expected according to a new study….

Study results indicate that the ice sheet may be responsible for nearly 25 percent of global sea rise in the past 13 years. The study also shows that seas now are rising by more than 3 millimeters a year–more than 50 percent faster than the average for the 20th century.

UAF researcher Sebastian H. Mernild and colleagues from the United States, United Kingdom and Denmark discovered that from 1995 to 2007, overall precipitation on the ice sheet decreased while surface ablation–the combination of evaporation, melting and calving of the ice sheet–increased. According to Mernild’s new data, since 1995 the ice sheet lost an average of 265 cubic kilometers per year, which has contributed to about 0.7 millimeters per year in global sea level rise.

This research is consistent with data presented at the annual meeting of the American Geophysical Union in December (see “Two trillion tons of land ice lost since 2003, rate of Greenland summer ice loss triples 2007 record“).  This staggering ice loss is all the more worrisome because it was not predicted by the IPCC’s climate models. As Penn State climatologist Richard Alley said in March 2006, the ice sheets appear to be shrinking “100 years ahead of schedule.” In 2001, the IPCC thought that neither Greenland nor Antarctica would lose significant mass by 2100. They both already are.

And, of course, Greenland is facing an almost incomprehensible amount of warming if we stay anywhere near our current emissions path — see “M.I.T. doubles its 2095 warming projection to 10°F “” with 866 ppm and Arctic warming of 20°F.”

Especially worrisome for North America is that a new study in Geophysical Research Letters (subs. req’d) finds that sustained high rates of Greenland ice loss could lead to staggering increases in coastal sea level rise.  As reported:

Read more

Yglesias

Whose Coup?

One of the puzzling things about the apparent electoral theft in Iran is that one of the major storylines of the Iranian election had been former president and current bigwig Ali Akbar Hashemi Rafsanjani had earlier intervened in the campaign against Ahmedenijad. There had long been elements of tension between Ahmadenijad, a younger and more populist guy, and the old-line clerical establishment. Moussavi’s campaign, though reformist in its main thrust, also always clearly had one foot in the establishment and seemed to have some establishment support. Under the circumstances, the election theft looks like an about-face.

Brian Ulrich rounds up some different strands and speculates that what we may be looking at is a military coup that’s at least as much about consolidating the power of the Revolutionary Guards over the economy as it is about the establishment crushing the forces of reform.

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